ODDITY Tech (NASDAQ:ODD) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of ODDITY Tech (NASDAQ:ODD) from a sell rating to a strong sell rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms also recently issued reports on ODD. Jefferies Financial Group upped their price objective on shares of ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, September 9th. Needham & Company LLC reiterated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, September 8th. Citigroup reiterated a “market perform” rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of ODDITY Tech in a report on Friday, September 25th. Finally, Bank of America reissued an “underperform” rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $22.15.

ODDITY Tech Stock Up 8.0%

ODD stock opened at $21.11 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $52.24. The company’s 50 day moving average is $15.92 and its two-hundred day moving average is $14.75. The stock has a market cap of $1.22 billion, a P/E ratio of 87.96 and a beta of 2.24.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $180.52 million during the quarter, compared to analysts’ expectations of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. Research analysts expect that ODDITY Tech will post -0.25 earnings per share for the current fiscal year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Drucker sold 21,571 shares of ODDITY Tech stock in a transaction on Friday, August 28th. The shares were sold at an average price of $15.14, for a total value of $326,584.94. Following the transaction, the chief financial officer directly owned 104,492 shares in the company, valued at approximately $1,582,008.88. The trade was a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 62,852 shares of company stock worth $938,716.

Institutional Investors Weigh In On ODDITY Tech

A number of institutional investors and hedge funds have recently made changes to their positions in ODD. SG Americas Securities LLC acquired a new stake in shares of ODDITY Tech during the first quarter worth about $104,000. Sigma Planning Corp increased its position in ODDITY Tech by 52.0% in the 1st quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock valued at $141,000 after acquiring an additional 3,605 shares during the period. Blue Trust Inc. increased its position in ODDITY Tech by 14.9% in the 1st quarter. Blue Trust Inc. now owns 11,359 shares of the company’s stock valued at $152,000 after acquiring an additional 1,470 shares during the period. USS Investment Management Ltd raised its stake in ODDITY Tech by 6.4% during the 1st quarter. USS Investment Management Ltd now owns 14,633 shares of the company’s stock valued at $196,000 after acquiring an additional 880 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in ODDITY Tech during the 2nd quarter valued at approximately $300,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

About ODDITY Tech

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.